US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...
Business
Washington hails ‘substantive progress’ after trade talks with China
Washington expressed optimism at the end of a weekend of trade talks with China aimed to de-escalate trade tensions sparked...
Economy
Economy
Economic crisis, Ukraine war impact Arab currencies
The currencies of six Arab nations faced significant decline during the first quarter of 2023 amidst global economic uncertainty, while...
- The currencies of six Arab nations faced significant decline during the first quarter of 2023 amidst global economic uncertainty, while another six experienced growth
- Economic challenges, the strengthening US dollar, and the ongoing Russian-Ukrainian war have all played a role in the recent currency fluctuations
Business
UAE, Vietnam begin process for economic partnership pact
Abu Dhabi, UAE - The UAE and Vietnam signed Thursday a declaration of intent to start negotiations for a comprehensive...
- The UAE is the leading trade partner of Vietnam in the Arab region, accounting for 39 percent of Vietnamese trade with the region’s countries.
- The two sides discussed ways of strengthening their cooperation in the areas of trade, investment, the new economy, industry and energy.
Economy
Kais Saied denounces IMF bailout conditions as ‘foreign diktats’
The IMF was originally expected to approve a bailout deal on December 19, but that was delayed pending a Tunisian...
- Saied said that the foreign diktats of IMF will lead to more poverty which is unacceptable.
- Saied's government reached an agreement in principle in mid-October for a nearly $2 billion package from the IMF.
Economy
‘Global growth to fall below 3 percent in 2023’
A continued slowdown in almost all the world's advanced economies is expected to drag global growth below three percent this...
- Global growth almost halved last year to 3.4 percent as the impact of Russia's invasion of Ukraine rippled through the world economy.
- Asia's emerging markets are expected to see substantial increases in economic output with India and China to account for half of all growth.
Business
DEWA, Siemens Energy discuss enhancing cooperation
DUBAI, UAE -Â MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer discussed enhancing cooperation...
- DEWA is implementing clean and renewable energy and water desalination projects.
- The firm attaches great importance to research in sustainable and renewable energy.
Global equities wobble as US data raises recession fear
London rose but Frankfurt and Paris slipped in muted trade during a holiday-shortened week, while Asian indices slipped lower. "Markets...
- On Wall Street, the Dow eked out a modest gain but the S&P 500 and Nasdaq both fell as more data added to recession concerns
- Gold price, considered a safe bet in times of economic crisis, lingered above $2,000 level, not far from a record $2,075.47 set in August 2020
Economy
Qatar Financial Centre, ILO collaborate to promote ‘decent labor standards’
Doha, Qatar - The Qatar Financial Centre (QFC), a leading onshore financial and business center in the region, has partnered...
- The ILO-Qatar is cooperating with the Ministry of Labor to enhance the implementation of the labor law across industries in the country
- Speaking about the event, senior QFC official Luigia Ingianni said that promoting decent work for all is one of the core values of the QFC
Science
This March sets a temperature record for second-warmest month ever
Paris, France--Earth had its second-warmest March on record with Antarctic sea ice shrinking to its second-lowest extent, the EU's climate...
- A report from the Copernicus Climate Change Service said temperatures were above average over southern and central Europe and below average over most of northern Europe
- Climate scientists have been warning that global warming is causing sea ice to decline and sea levels to rise, and that dangerous tipping points could be reached
Geostrategy
French, EU leaders to push China for active role in Ukraine peace process
Beijing, China--French and EU leaders will on Thursday seek to make Europe's case for bringing an end to the conflict in...
- The visiting French President Emmanuel Macron said that China had a "major role" to play in finding a path to peace in Ukraine
- In a meeting with Chinese Premier Li Qiang, Macron highlighted the importance of dialogue between China and France
Economy
Saving behavior in the UAE jumps as National Bonds hit 15% growth in 2022
Dubai, UAE - National Bonds, the UAE’s Shari’a-compliant savings and investment company, saw another strong year soaring to an investment...
- The strong growth in 2022 was attributed to several pioneering ideas and solutions, such as the Golden Pension Plan, Global Savings Club, and Sukuk Al Waqf
- The Golden Pension Plan leverages the financial solutions provided by National Bonds to residents, to meet the demand from both employers and employees
US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...
Business
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DTC sets IPO offer price range
Business
Middle East needs strong Saudi Arabia, says kingdom’s finance minister
Dubai, UAE-- Saudi Arabia's Finance Minister Mohammed Al-Jadaan said the Middle East needs a strong Saudi Arabia to contribute and...
World Economic Forum
UAE ranks first in Arab world in labor-resilient countries, says report
Dubai, UAE -Â Against the backdrop of the World Economic Forum in Davos, Whiteshield announces the release of the Global Labor...
Business
Qatar’s IPI declines by 1.5 percent in November 2023
DOHA, QATAR – The Industrial Production index (IPI) of Qatar in November 2023 reached 91.7 points which is a fall...
Economy
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Economy
Dubai at forefront of sustainable energy innovations
“We're witnessing strong, growing, and sustainable demand for energy and water in Dubai. In 2023, the peak electricity load rose...
- DEWA’s state-of-the-art infrastructure bolsters Dubai's global economic and trade hub status.
- World's largest solar-powered desalination plant is set to enhance the emirate's water security.
Business
Apple loosens grip on iPhone apps
Apple will permit developers to include buttons or links in apps.
- The move came after the US Supreme Court on Tuesday declined to hear appeals by Apple and Epic of a lower court ruling in which the iPhone maker was seen as the victor.
- Epic in 2020 launched a case aiming to break Apple's grip on the App Store, accusing the tech giant of operating a monopoly in its shop for digital services
World Economic Forum
WTO head ‘less optimistic’ for world trade due to Red Sea strikes
The head of the international trade body said weaker global economic growth, "worsening geopolitical tensions, the new disruptions we see...
- Before the outbreak of war in Gaza, the WTO had predicted trade would grow by 0.8 percent in 2023 and projected growth of 3.3 percent this year.
- "We think there are a lot of downside risks to the forecasts we had made last year of 3.3% of growth of merchandise volumes this year. So we expect weaker performance," she said.